Apple Inc. $AAPL Shares Acquired by Swiss National Bank

Key Points

• Swiss National Bank increased its Apple stake by 6.1% in the first quarter, adding 2.47 million shares to own 43.13 million shares valued at approximately $10.95 billion. Apple now represents 6.3% of the bank’s portfolio and is its second-largest holding.
• Apple reported quarterly EPS of $2.02, beating estimates of $1.89, while revenue rose 16.4% year over year to $109.42 billion. Institutional investors collectively own 67.73% of the company.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $331.60, although Apple’s valuation remains elevated at a P/E ratio of 34.80. The company also declared a quarterly dividend of $0.27 per share, yielding 0.4% annually.

Swiss National Bank increased its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 6.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 43,134,968 shares of the iPhone maker's stock after buying an additional 2,467,900 shares during the quarter. Apple comprises about 6.3% of Swiss National Bank's investment portfolio, making the stock its 2nd biggest position. Swiss National Bank owned 0.29% of Apple worth $10,947,224,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Reyes Financial Architecture Inc. lifted its stake in shares of Apple by 0.4% in the 3rd quarter. Reyes Financial Architecture Inc. now owns 9,898 shares of the iPhone maker's stock valued at $2,520,000 after purchasing an additional 37 shares in the last quarter. WESPAC Advisors LLC grew its holdings in shares of Apple by 0.3% during the 4th quarter. WESPAC Advisors LLC now owns 12,326 shares of the iPhone maker's stock worth $3,351,000 after purchasing an additional 39 shares during the period. Interactive Financial Advisors Inc. increased its position in Apple by 4.0% during the 4th quarter. Interactive Financial Advisors Inc. now owns 1,051 shares of the iPhone maker's stock worth $286,000 after purchasing an additional 40 shares in the last quarter. Sugar Maple Asset Management LLC increased its position in Apple by 2.0% during the 1st quarter. Sugar Maple Asset Management LLC now owns 2,029 shares of the iPhone maker's stock worth $515,000 after purchasing an additional 40 shares in the last quarter. Finally, Orion Investment Co raised its holdings in Apple by 0.3% in the fourth quarter. Orion Investment Co now owns 14,354 shares of the iPhone maker's stock valued at $3,902,000 after buying an additional 41 shares during the period. Institutional investors and hedge funds own 67.73% of the company's stock.

Trending Headlines about Apple

Here are the key news stories impacting Apple this week:

• Positive Sentiment: India proposed extending tax exemptions through 2041 for foreign companies supplying equipment to contract manufacturers. The policy could lower Apple’s manufacturing costs and support its strategy of shifting more iPhone production to India. India proposes extending tax breaks for contract manufacturing in a boost for Apple
• Positive Sentiment: Apple continues to generate substantial free cash flow, with analysts expecting strong cash generation to continue alongside higher revenue forecasts. This supports shareholder returns and provides financial flexibility, although the stock’s valuation limits the upside case. Apple Delivers Strong Free Cash Flow, But What is the Best AAPL Play?
• Positive Sentiment: A reported deal with PlasmaSolve could help Apple develop thinner, stronger device finishes by using software simulations before factory testing, potentially improving manufacturing yields and reducing testing costs. Apple Stock Drops as PlasmaSolve Deal Targets Thinner and Stronger Devices

Apple Stock Performance

Apple stock opened at $303.42 on Tuesday. The firm has a market capitalization of $4.46 trillion, a PE ratio of 34.80, a price-to-earnings-growth ratio of 2.65 and a beta of 1.09. Apple Inc. has a one year low of $201.68 and a one year high of $344.57. The stock's 50 day moving average price is $309.40 and its 200 day moving average price is $281.90. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.93 and a current ratio of 1.00.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The iPhone maker reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.13. The company had revenue of $109.42 billion during the quarter, compared to the consensus estimate of $109.04 billion. Apple had a net margin of 27.62% and a return on equity of 135.46%. Apple's revenue for the quarter was up 16.4% on a year-over-year basis. During the same quarter last year, the company earned $1.57 earnings per share. As a group, sell-side analysts expect that Apple Inc. will post 8.8 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 13th. Stockholders of record on Monday, August 10th will be paid a $0.27 dividend. The ex-dividend date is Monday, August 10th. This represents a $1.08 annualized dividend and a dividend yield of 0.4%. Apple's dividend payout ratio is 12.39%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on AAPL. Raymond James Financial reaffirmed a "market perform" rating on shares of Apple in a research report on Friday. Bank of America reissued a "buy" rating and issued a $380.00 price objective on shares of Apple in a research report on Thursday, June 18th. Wedbush restated an "outperform" rating and set a $400.00 target price on shares of Apple in a report on Friday, June 5th. Sanford C. Bernstein restated an "outperform" rating on shares of Apple in a report on Monday, June 8th. Finally, Monness Crespi & Hardt upped their price target on shares of Apple from $315.00 to $335.00 and gave the stock a "buy" rating in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $331.60.

Insiders Place Their Bets

In related news, insider Ben Borders sold 116 shares of the firm's stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $295.14, for a total transaction of $34,236.24. Following the completion of the sale, the insider directly owned 38,713 shares of the company's stock, valued at approximately $11,425,754.82. This trade represents a 0.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 0.06% of the company's stock.

Apple Company Profile

Apple Inc NASDAQ: AAPL is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.

Apple's principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.

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